BNP PARIBAS Correlations

Stocks . Germany . 
Stock . BNP PARIBAS ADR
BNPH Stock  EUR 29.60  0.60  2.07%   
The current 90-days correlation between BNP PARIBAS ADR and Commonwealth Bank of is 0.15 (i.e., Average diversification). The correlation of BNP PARIBAS is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

BNP PARIBAS Correlation With Market

Good diversification

The correlation between BNP PARIBAS ADR and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BNP PARIBAS ADR and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to BNP PARIBAS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BNP PARIBAS when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back BNP PARIBAS - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling BNP PARIBAS ADR to buy it.

Moving together with BNP Stock

  0.97BNP BNP Paribas SAPairCorr
  0.66LLD Lloyds Banking GroupPairCorr
  0.67LLD2 Lloyds Banking GroupPairCorr
  0.92XCA Crdit Agricole SAPairCorr

Moving against BNP Stock

  0.64BAC Verizon CommunicationsPairCorr
  0.6APC Apple IncPairCorr
  0.6APC Apple IncPairCorr
  0.59APC Apple IncPairCorr
  0.59APC Apple IncPairCorr
  0.59APC Apple IncPairCorr
  0.58APC Apple IncPairCorr
  0.55MSF MicrosoftPairCorr
  0.54MSF MicrosoftPairCorr
  0.53MSF MicrosoftPairCorr
  0.52MSF MicrosoftPairCorr
  0.37KDB KBC Group NVPairCorr
  0.33E908 Lyxor 1PairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
CWW
+ 0.76
UOF
TMD0
+ 0.56
BAK
TMD0
+ 0.54
UOF
GI4
+ 0.51
CWW
GI4
+ 0.5
UOF
TMD0
+ 0.49
CWW
  
High negative correlations   
WIQ
- 0.27
AVK1
UOF
- 0.25
AVK1
GI4
- 0.19
AVK1
CWW
- 0.15
AVK1

Risk-Adjusted Indicators

There is a big difference between BNP Stock performing well and BNP PARIBAS Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze BNP PARIBAS's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

Be your own money manager

Our tools can tell you how much better you can do entering a position in BNP PARIBAS without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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